Frequently Asked Questions
What is the average storefront rent downtown?
While the prices vary from property to property, the average base rent is $12 per square foot.
Are utilities included in the "Great Space Giveaway?"
No, utilities are not included in the giveaway.
How much should I budget for utilities?
We would recommend that you lump additional operating costs together to include utilities, taxes and building insurance. By doing that, you could expect to budget another $5-$6 per square foot.
What spaces are participating in the contest?
This is a fluid list as property owners are not prevented from leasing their current vacant space during the course of this contest.
As of January 19, 2011, the following properties are participating:
305 West Superior Street:
313 West Superior Street:
324 West Superior Street:
210 West Superior Street:
212 West Superior Street:
222 West Superior Street:
9 West Superior Street:
1,600 Sq. Feet
2,500 Sq. Feet
2,450 Sq. Feet
2,000 Sq. Feet
10,000 Sq. Feet
4,926 Sq. Feet
5,000 Sq. Feet
Former Christopher’s
Former Anne Child’s
Former Allenfall’s
Crescent Building
Former Ace Hardware
Minnesota National Bank Building
Former Plasma Center
If I win, do I get to choose my location?
You will be asked to list your top three location choices and the selection committee will work with you to determine the best fit.
If I don’t win, will my contact information be shared with other property owners?
Yes, contact information of those who completed business plans will be shared with property owners.
Do you provide financial assistance?
We do not provide financial assistance beyond the incentive package offered through this contest. As part of that package, the two winners will receive access to a low-interest $5,000 loan through the Northeast Entrepreneur Fund.